Govt eyeing ComCom bank interchange fees decision

Govt eyeing ComCom bank interchange fees decision
A decision on the regulation of bank interchange fees is beleived to be imminent. (Image: Getty)
Pattrick Smellie
The Government is closely watching for the Commerce Commission’s decision on regulation of bank interchange fees that credit card companies, banks and fintecs fear will stifle banking competition, recently appointed Minister of Commerce Scott Simpson says.In an interview with BusinessDesk, Simpson made clear there was no capacity for intervention before the commission’s decision, believed to be imminent. However, he was highly focused on the need for the fees not to be set so low that they discouraged the development of open ba...

More Finance

BNZ preserves margins on flat half-year
Finance

BNZ preserves margins on flat half-year

BNZ outranks its Australian cousins for customer preference.

Westpac's NZ net interest margin expands again
Finance

Westpac's NZ net interest margin expands again

Net interest margins rose in NZ, but shrank for the group as a whole.

Pattrick Smellie 05 May 2025
NZSA weighs in on FNZ shareholder issue
Finance

NZSA weighs in on FNZ shareholder issue

Shareholder class action is imminent.

Victoria Young 05 May 2025
Rob Everett to replace Joy Marslin as Simplicity chair
Finance

Rob Everett to replace Joy Marslin as Simplicity chair

The former chief executive of FMA and NZGCP starts on the board in May.

Staff reporters 01 May 2025